NTOIF - Neste down hard on CEO departure

Neste (OTCPK:NTOIF) shares slid as much as 6% in Europe this morning, as the bio-fuel business's CEO announced his resignation CEO since November 2018, Mr. Vanacker saw the share price nearly triple in his first two years on the job; however, as bio-fuel competition increased, Neste has seen its share price drift lower for most of 2021 The Board is kicking off a successor search immediately, suggesting the move came as a surprise to the Board; given Mr. Vanacker's position leading a national champion at the age of 55, along with the selloff in shares, it appears the move comes as a surprise to investors as well

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Neste down hard on CEO departure